Nexif Energy Achieves Financial Close on First Stage of the 212MW Lincoln Gap Wind Farm in Australia

13-Nov-2017 Intellasia | BusinessWire | 4:00 AM Print This Post

SINGAPORE–(BUSINESS WIRE)–Nexif Energy, an independent power producer in Australia and Southeast
Asia, has announced that it has reached financial close for the first
stage of the Lincoln Gap Wind Farm in Australia.

Located near Port Augusta in South Australia, the Lincoln Gap Wind Farm
project’s 126 megawatts (MW) first stage involves the construction and
operation of 36 wind turbines, supported by innovative offtake contracts
with Snowy Hydro and ERM Power. The full project, a 59-wind
turbine farm, will produce 212MW, which is enough electricity to power
approximately 155,000 homes. The project will feed into the State’s
electricity grid via the ElectraNet transmission network.

The project also includes installation of a utility scale battery system
of 10MW, with potential expansion capability to utilize battery
technology advancements. This will be one of Australia’s largest private
sector-initiated and owned grid battery systems not underwritten by a
government contract or funded by government grants.

“As a new, independent participant to the Australian market, we are
excited to implement an innovative contracting strategy that will not
only provide renewable power to thousands of Australian homes but also
optimise the use of grid-scale battery storage on a commercial basis,”
said Matthew Bartley, a Founder and Co-Chief Executive Officer of Nexif
Energy. “We value the support of all project stakeholders who have
worked with us along the way to achieve this important milestone.”

Lincoln Gap will be constructed under the terms of a turnkey contract
with Senvion Australia and is expected to begin operation in Q1 2019.
The Clean Energy Finance Corporation (CEFC) will act as financier,
lending up to A$150M (US$115M) for construction of the first stage of
the wind farm and Investec has provided facilities totalling A$39M
(US$30M) for working capital and letters of credit.

“We are committed to becoming a leading regional independent power
generation company and are striving to achieve this by briskly executing
on our active projects in Australia, Vietnam and other markets such as
Thailand, Bangladesh and the Philippines,” added Surender Singh, a
Founder and Co-Chief Executive Officer of Nexif Energy. “We are also
seeking additional large-scale investment opportunities in Asia-Pacific
as we continue to look toward the future.”

Nexif Energy was formed in 2015 by independent power management company
Nexif and global private equity firm Denham Capital. Nexif Energy’s
equity commitment for Lincoln Gap represents its largest investment to

“This is another landmark project for Nexif Energy and builds upon prior
Denham investments in Australia. We are excited to continue expanding
Denham’s international power investment footprint across the Australian
and Southeast Asian markets with the Nexif Energy platform,” said Denham
Capital Director Saurabh Anand. “The region presents significant growth
opportunities and we look forward to investing in more projects in the
near future alongside Surender, Matthew and their team.”

About Nexif Energy

Nexif Energy was formed in August 2015 by Nexif, a Singapore-based
independent power management company, and Denham Capital, a leading
global energy-focused private equity firm with more than US$9.0 billion
of invested and committed capital across eight fund vehicles. Nexif
Energy’s goal is to develop, finance, construct and opportunistically
acquire conventional and renewable power generation assets across
Southeast Asia and Australia.


Pierpont Communications
Krystal Patout, +1 936-870-6367
[email protected]


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